Auteur/autrice : David

EU trade ministers meet on Thursday – “There is support for open free trade in Europe”

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Summary:
Demokraatti reports that Minister for Foreign Trade and Development Kai Mykkänen participates in the EU trade ministers’ meeting on Thursday in Brussels. Mr Mykkänen says that economic globalisation has been a hot topic after the election of Donald Trump. The French election result indicates that there is support for open free trade in Europe, he continues. The result does not solve everything, however, and we must be better able to respond to the challenges posed by globalisation, Mr Mykkänen notes.

Media:  Demokraatti.fi
Date: 10.5.2017
Journalist: –
Main source: Kai Mykkänen, Minister for Foreign Trade and Development

New Arctic Council chair Finland will have to debate climate change wordings with irresolute Americans

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Summary:
The chairmanship of the Arctic Council will transfer from the United States to Finland during the summit beginning in Fairbanks, Alaska, on 10 May. The American hosts have had a difficult time before the summit as the United States does not currently have an official view on climate change. The situation has been difficult for the Finns as the other seven members of the council want to hold on to their climate views, and there have been attempts to solve the problem by finding wordings that even the Americans could accept. Minister for Foreign Affairs Timo Soini believes a good result will be reached and expresses his satisfaction with the fact that all member states have accepted Finland’s agenda which focuses on environmental protection, education, meteorological co-operation and developing communications networks for Northern regions. Mr Soini is pleased that the chairmanship of the Arctic Council offers Finland a link to the new US administration.

President Niinistö would protect the Arctic by rejecting black coal

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Summary:
President Sauli Niinistö says it may be difficult to keep the fight against climate change on the agenda of the Arctic Council as both US and Russian leaders have expressed doubts about the man-made nature of the problem. Finland is about to begin its term as chair of the council. Mr Niinistö believes common ground could be found if the issue was approached from the angle of black coal which is accelerating glacier melt. Rejecting emission sources for black coal, such as outdated energy plants and flaring, would not interfere with the interests of council members seeking economic profit in the area, Mr Niinistö notes.

Prime Minister Sipilä: French election result positive news for the EU

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Summary:
Finnish Prime Minister Juha Sipilä says the result of the French presidential election is good news for the EU and also for Finland. According to Minister for Foreign Affairs Timo Soini, the election results leaves no room for second guessing. He does not expect the result to bring changes to the already good relations between Finland and France but believes that the continuation of co-operation between France and Germany in Europe could increase stability and predictability and thus be positive for Finnish economic growth. Also President Sauli Niinistö sees Emmanuel Macron’s election as good news for Europe and states that Mr Macron’s election also means increasing integration which benefits Finland.

Nordea’s Lippo Suominen praises strong results season

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Summary:
According to Nordea’s weekly report, the many interim reports published last week gave a positive overall image of the performance of Finnish listed companies during the beginning of the year. Chief Investment Strategist Lippo Suominen states that results have, for the most part, met expectations and revenues have finally started to grow noticeably. More than half of the companies monitored by Nordea Markets have published their results, and up to 90% have met revenue expectations and had a positive result performance.

Media:  Arvopaperi
Date: 2.5.2017
Journalist: Ahti Terhemaa
Main source: Nordea’s Chief Investment Strategist Lippo Suominen

Recent review reveals bleak trend: Household debt bomb ticking

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Summary:
Finns are becoming increasingly indebted as their savings rate continues to be negative, the recent economic review by the Ministry of Finance indicates. High household indebtedness reflects on the national economy. Nordea’s Private Economist Olli Kärkkäinen says he is concerned if the negative savings rates continue in the long term and notes that some forecasts indicate that private consumption is growing faster than purchasing power. This means that the growth in consumption is based on debt, which is not sustainable in the long term. He is, however, glad that the rate of indebtedness has slowed down.

Government: Hiding of Finnish holdings cannot be prevented – Parliament’s Commerce Committee supports proposal on nominee register law

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Summary:
The Finnish Parliament today discussed a contentious report by the Parliament’s Commerce Committee on the registration of shares in central securities depositories, reports Helsingin Sanomat. The report supports the Government’s proposal according to which shares by Finnish companies can be included in foreign book entry systems. The law allows the anonymous ownership of shares abroad through a nominee register. The law will amend the Finnish legislation to comply with the EU’s central securities depositories regulation. Banning nominee registration abroad has been interpreted as not possible as Finland cannot interfere in another EU country’s legislation, noted many MPs during the discussion.

Coalition partners on Terho’s appointment as minister: No change in EU policy

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Summary:
Centre Party and National Coalition Party representatives say the Government’s EU policies will not change with the appointment of Finns Party MP Sampo Terho as Minister for European Affairs. Mr Terho has previously brought up the idea of an EU referendum in Finland. Prime Minister Juha Sipilä and Minister of Finance Petteri Orpo say the Government is committed to the government programme which states that Finland is an active member of the EU.

Media:  Iltalehti
Date: 29.4.2017
Journalist: STT
Main source: Prime Minister Juha Sipilä and Minister of Finance Petteri Orpo